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in 2013. phil lebeau has the report. >>> how about housing? what a story housing has been this year. a milestone. home prices on track for their first year-over-year gain since 2006. is the worst finally over? some say yes, others say no. what does michelle caruso-cabrera say. >> tyler, let's drill down to the numbers you were talking about. only four hours to go until america goes over the fiscal cliff. the dow jones industrial average down 113 points. had been down 148 points. look at that as we come on the air back above 13,000 level, not by much. the nasdaq, the biggest decline. 33 points. below 3,000 now at 2957. actually, hasn't been below 3,000 before that. s&p lower by 14 points. a decline of 1%. 1405 so holding onto the 1400 level. president obama is back at the white house. all eyes are on senate lawmakers now. amam jabbers is in washington. >> reporter: president obama did cut his vacation short in hawaii. he has arrived back at the white house this morning. the president emerging from marine one. what he's going to work on here in washington is pretty much anybody's gues
by 50% in the second quarter of this year. our phil lebeau is live to tell us why this is happening. phil? >> reporter: it's all about uncertainty, carl. this is a troubling statistic. i want to show you a chart we received which monitors 20 million small business loans with 17 million businesses around the country. look at the falloff here in terms of the amount of investment made by small manufacturers. what you want to look at is towards the end in the third quarter. it fell off dramatically. well, according to pay net, small manufacturers cut their investments in plant, in equipment by 50% in the second quarter. one of the troubling sectors transportation equipment, the investment there for those manufacturers fell off by 33% and according to the folks at pay net this comes down to manufacturers pulling back because of uncertainty. >> there was certainly a lot of uncertainty about how to implement affordable health care. how to react to the tax rates that were coming down pike, whether or not the deficit problem was going to be addressed. >> reporter: bottom line, uncertainty ab
cars few in the industry have ever seen. phil lebeau is in chicago. i guess essentially, phil, the europeans are taking a leap out of the americans' book. they used to scoff that the american automakers would offer. now it's par for the course. >> especially in december. it used to be lexus, but mercedes-benz was looking for offers in november. this is an increase compared to october, up 42% for bmw, 26% for mercedes, lexus up 3%. what's going on here? let's start with bmw. their holiday deals now include up to five months of no payments. that's the kind of stuff you used to hear from chevy or from ford. by the way, bmw sales surged 45% last month. mercedes leads bmw year-to-date by just under 1,900 vehicles. it last led the u.s. luxury sales in '99. it really wants the title again. at the core of what's happening between these two german automakers, they need strong sufficient sales to offset the weakness they're seeing in europe. that's why their production has been ramped up here at their facilities in the u.s. bmw announced it's on pace to set global sales of more than 1.7
Search Results 0 to 2 of about 3